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Yesterday Chancellor John Healey gave his maiden budget under Andy Burnhamās leadership, announcing measures to cut energy bills funded by a windfall tax on banks. He characterised his plan as ā a budget built on fiscal discipline ā fit to face āglobal economic stormsā that are driving up up energy prices.
Does Healeyās budget represent a break with the past, or is the lower-than-expected tax on banks just another example of tinkering around the edges by another Chancellor fenced in by self-imposed fiscal rules? Continue reading...